Considering the fact that oil companies are already holding leases on land they can drill on, why would oil companies suddenly start drilling? They're the ones, with OPEC, controlling the gas prices. They're the ones who decide when to drill and how much. And they won't drill unless more drilling will help maintain their bottom line. As …
Considering the fact that oil companies are already holding leases on land they can drill on, why would oil companies suddenly start drilling? They're the ones, with OPEC, controlling the gas prices. They're the ones who decide when to drill and how much. And they won't drill unless more drilling will help maintain their bottom line. As with tariffs, the Orange Snake doesn't know how the economy, specifically the oil economy now, really works.
Ah, thank you. I may have been seeing a simplistic picture. I thought that somehow there were protected areas that would be handed over to oil companies to allow them to drill more. And that they were just champing at the bit to get into those areas and start drilling. But it seems that perhaps they're not. I'll have to research this more. Thank you.
Considering the fact that oil companies are already holding leases on land they can drill on, why would oil companies suddenly start drilling? They're the ones, with OPEC, controlling the gas prices. They're the ones who decide when to drill and how much. And they won't drill unless more drilling will help maintain their bottom line. As with tariffs, the Orange Snake doesn't know how the economy, specifically the oil economy now, really works.
Ah, thank you. I may have been seeing a simplistic picture. I thought that somehow there were protected areas that would be handed over to oil companies to allow them to drill more. And that they were just champing at the bit to get into those areas and start drilling. But it seems that perhaps they're not. I'll have to research this more. Thank you.
The Orange Snake does want to open protected areas, and the companies would bid on them. But again, they'll only drill if it doesn't hurt them. Check this out: https://cepr.net/is-drill-everywhere-good-news-for-the-oil-industry/